Non Fungible Tacos (March 9, 2021)

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Good morning. Welcome to Tuesday Trades, part of our new series: BitPinas Daily. We will look at the price of Bitcoin, Ethereum and the major cryptocurrencies. Crypto is global, but sometimes news that matters happens while we sleep. So we bring to you what’s happening in our space here and abroad. 

Market Price as of March 9, 2021:

Bitcoin$52,329+1.98%
Ethereum$1,837+6.37%
BNB$240.62+0.23%
DOT$34.97-0.77%
ADA$1.12-1.75%
SLP$0.06+30.8%


Bitcoin closed March 8, 2021, at $52,329 per BTC. We’re up 7% in the last 7 days and up 84% since the year began. This is also 10% below the all-time high of $58,640, which was hit on Feb. 21, 2021.

Bitcoin’s market capitalization stands today at $998,336,064,140 which is 58.81% of the entire cryptocurrency market. The entire crypto market, by the way, now has a market cap of $1,691,010,863,863  (+3.9%).

On the table above, there’s the cryptocurrency SLP. If you wonder what that is, check out this article: Playing Axie Infinity vs Minimum Basic Salary in the Philippines.

PayPal

PayPal Buys Crypto Security Startup Curve

In a press release, PayPal said the acquisition of the Tel Aviv-based startup will help the company accelerate and expand its initiatives to support cryptocurrencies and digital assets.

“During our conversations with Curv’s team, we’ve been impressed by their technical talent, entrepreneurial spirit, and the thinking behind the technology they’ve built in the last few years. We’re excited to welcome the Curv team to PayPal,” the fintech giant said in a statement.

The Block noted that this is PayPal’s first acquisition in the cryptocurrency space. The company has long been rumored to be in acquisition mode to boost its crypto capabilities. 

Taco Bell

Taco Bell Sells Collectible Digital Tacos

The five distinct non-fungible tacos tokens were put on sale on Rarible for 0.001 ETH (or around $1). This is how much people are willing to pay for it now:

Tacos have value, with people bidding for as much as $1,837 per Taco Bell NFT.

By the way, since these are NFTs, Taco Bell will get a fee every time they get resold. The company said all those proceeds will be donated to the Taco Bell Foundation.

The Non-Fungible Token space has been growing rapidly. Make it a point to read our NFT 101: Non-Fungible Tokens – NFT 101 – Why People are Spending Millions of Dollars for Crypto Art and Digital Items

NFTs

Weekly Volume Continues to Increase on NFT Platforms:

The Block also noted that there is an uptick in activity in CryptoKitties, which is now seeing more usage than it has since April 2019.

U.S.

U.S. Government is Selling 0.7501 of a Bitcoin

The U.S. General Services Administration is auctioning some surplus federal equipment to the general public. One of the items is “0.7501 of a Bitcoin”. There was no indication as to where these Bitcoins came from. 

And certainly it’s a long way from the 30,000 BTC auction by the US. government in 2014. These Bitcoins were seized from the Silk Road Marketplace. Tim Draper bought all those Bitcoins for $18 million. It’s worth $1.6 billion today.

What else is happening

  • Coinbase Is Said to Be Valued at $90 Billion in Private Auction
  • Goldman Crypto Chief Flags Institutional Demand Driving Boom
  • Enjin Launches Two NFT Scaling Solutions
  • Crypto Exchange Traffic Continued Its Growth Streak in February

This article is published on BitPinas: Non Fungible Tacos (March 9, 2021)

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Michael Mislos

A business ad graduate from the Pamantasan ng Lungsod ng Maynila, Mike is the website manager of Bitpinas.com. He is responsible for almost every content you see on the site, from topic/news selection to editing of articles. Mike believes correct information about blockchain and cryptocurrency can empower people to make accurate decisions about the industry, which, in turn, should deter bad actors from taking advantage of crypto & blockchain. [Telegram @mikemislos]